Mubasher: The National Bank of Oman (NBO) recommended ‘Accumulate’ on Gulf International Chemicals stock, setting the target price at OMR 0.285.
The target price set by NBO is 14% higher than the stock price of OMR 0.250, according to a report released by the bank on Monday.
The bank also recommended ‘Buy’ on the stock after exceeding the level of OMR 0.235.
The report said that the stock met its previous target price of OMR 0.292 on 7 February after rising 13.2%, and rose once again by 5.3% in mid-March after a reiterate call.
The stock’s current price of OMR 0.250 is the lowest since the beginning of the year, while its highest level was reached on 27 March at OMR 0.328.
Gulf International Chemicals earlier posted a fall of 20.96% in its net profit for the first quarter of fiscal 2016 to OMR 239,500.
